Aris Mining (NYSE:ARMN) Shares Gap Up – Still a Buy?

Aris Mining Co. (NYSE:ARMN) shares gapped up before the market opened on Wednesday . The stock had previously closed at $5.41, but opened at $5.65. Aris Mining shares last traded at $5.50, with a volume of 238,874 shares traded.

Aris Mining Price Performance

The stock has a 50-day moving average of $4.33 and a two-hundred day moving average of $4.13. The company has a current ratio of 1.45, a quick ratio of 1.13 and a debt-to-equity ratio of 0.32. The firm has a market cap of $947.75 million, a price-to-earnings ratio of -275.75 and a beta of -0.46.

Institutional Investors Weigh In On Aris Mining

Several hedge funds have recently made changes to their positions in the company. Mackenzie Financial Corp lifted its holdings in shares of Aris Mining by 4.2% in the fourth quarter. Mackenzie Financial Corp now owns 70,009 shares of the company’s stock valued at $245,000 after purchasing an additional 2,790 shares in the last quarter. Geode Capital Management LLC boosted its position in Aris Mining by 4.1% during the 4th quarter. Geode Capital Management LLC now owns 80,860 shares of the company’s stock worth $284,000 after acquiring an additional 3,176 shares during the period. Commonwealth Equity Services LLC grew its stake in Aris Mining by 13.2% during the 4th quarter. Commonwealth Equity Services LLC now owns 60,000 shares of the company’s stock valued at $210,000 after acquiring an additional 7,000 shares in the last quarter. Cetera Investment Advisers increased its holdings in shares of Aris Mining by 10.7% in the 4th quarter. Cetera Investment Advisers now owns 83,508 shares of the company’s stock valued at $293,000 after purchasing an additional 8,102 shares during the period. Finally, Virtu Financial LLC lifted its position in shares of Aris Mining by 66.6% in the third quarter. Virtu Financial LLC now owns 22,279 shares of the company’s stock worth $102,000 after purchasing an additional 8,909 shares in the last quarter. Hedge funds and other institutional investors own 35.81% of the company’s stock.

Aris Mining Company Profile

Aris Mining Corporation, together with its subsidiaries, engages in the acquisition, exploration, development, and operation of gold properties in Canada, Colombia, and Guyana. It also explores for silver and copper deposits. The company was formerly known as GCM Mining Corp. and changed its name to Aris Mining Corporation in September 2022.